Pakistan ginners are concerned over the recent dip in cotton prices, mainly due to the ongoing festival season holidays, says Mr. Mahesh Kumar, Chairman of Pakistan Cotton Ginners Association (PCGA).
In a conversation with fibre2fashion, Mr. Kumar said, “Cotton prices have currently declined and are presently around Pk Rs. 6100 per maund of 37.32 kg for high grade cotton and Rs. 5400 per maund for low quality cotton.”
“Currently, there are very less buyers for yarn and cotton in the global market due to the festival season,” he adds.
“There is a decline in prices and demand of Pakistani cotton and we hope that there would be a change in the scenario after the holiday season,” he opines.
Talking about the challenges faced by the cotton ginners, he says, “The shortage in the supply of electricity and gas is also a concern for the cotton ginners in the country.”
At present, textile units in Punjab province of Pakistan, where around 80 percent of the country’s textile mills are located, are witnessing an indefinite suspension of power supply. If the situation continues it would lead to a halt in production, and resultantly a decline in domestic consumption of cotton, which would, in turn, lead to a further decline in cotton prices.
Pakistan Cotton Ginners’ Association is a representative body, which coordinates the problems of the ginners with the Federal and Provincial Government Agencies to resolve them.
